Here is a new edition of the book, which has become a classic for investors around the world. For more than 10 years, it has been helping investors minimize risks thanks to properly compiled portfolios of securities. The life principle "do not put all your eggs in one basket," tested by more than one generation, allows you not only to smooth out market fluctuations, but also to get the maximum profitability. William Bernstein details the theory of asset allocation, talks about the main types of assets and gives examples of various diversified portfolios that are most profitable from his point of view. The basis for its recommendations is statistical data on market dynamics over the past few decades. For investors looking to improve the results of the game in the market. Such books must be on bookshelves so that each new generation of investors can benefit from the experience of their predecessors.